US dairy and gluten-free firm Boulder Brands has upped its EBITDA forecasts after a “terrific” second quarter, boosted by M&A and higher sales on an organic basis.

Boulder expects its annual EBITDA to reach US$69-71m, up from an earlier forecast of $64-69m.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Shares in Boulder jumped and were up 11.54% at $14.40 at 12:39 ET.

Profits and sales were higher in the second quarter to the end of June, driving better results for the first half of the year.

Net income reached $3.1m in the quarter, compared to $484,000 a year earlier. Operating income more than doubled from $4.3m to $10.7m.

See Also:

Net sales increased 45.7% to $110.7m, in part due to the contribution of Udi’s Healthy Foods in this year’s second quarter. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Organic sales on a pro forma basis, which assumes Boulder owned Udi’s for the whole of last year’s second quarter, were up 11.8%.

However, sales and profits from Boulder’s Smart Balance dairy division fell. The company said sales of its “premium” spreads and spreadable butter brands gained share.

Chairman and CEO Stephen Hughes said the company had a “terrific” quarter He added recent moves to exit some dairy categories and its licensing deal with Byrne Dairy should “result in a more stable and profitable Smart Balance portfolio”.